FPL Group Capital Inc. has announced the sale of $250 million in principal amount of debentures bearing interest at 2.55% per year and maturing on Nov 15, 2013. The debentures will be guaranteed by FPL Group Capital's parent company, FPL Group Inc.
The debentures were offered to the public at 99.934% of face value to yield 2.57% when held to maturity. Net proceeds from these sales will be added to FPL Group Capital's general funds, which the company expects to use to repay a portion of its outstanding commercial paper obligations.
SOURCE: FPL Group Inc.